Martin Lewis issues 'big if' warning to British Gas, EDF, OVO, Octopus customers

Martin Lewis' latest advice on whether you should fix bills or not - depending on a "big if" - has been revealed. BBC Sounds podcast host Mr Lewis spoke out over whether you should fix as the Cost of Living crisis continues up and down the country.

The Money Saving Expert founder and ITV star, who is a Good Morning Britain regular and This Morning star, explained: "So those predictions, and it going down 3 per cent over the next year, that's probably generous, it may only be two or one per cent less than it is right now, on average over the next year.

"But at the same time, we started to see some cheaper fixed coming into the market. So if you think about what I'm saying, staying on the price cap will be roughly 3 per cent cheaper than now if we're lucky but it may be less than that, those predictions might be about to be one or two per cent cheaper than right now."

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The quotes from his podcast come as British Gas, EDF, EOn customers mull over fixing their energy bills as the Ofgem price cap promises to come down later this month. Mr Lewis added: "So if you can fix at anything where the discount is more than 3 per cent cheaper than the current rates, then you're both getting the piece of mind that you can lock in at a cheaper rate and you might actually, if those predictions come true, actually save money over the next year at the same time.

"Now what I've generally been saying when we've talked about fixes in the past, is they've been roughly the same price as what the predicted price cap fall is so it's been about peace of mind that you won't pay any more. Now, it looks like there are actually cheaper than the prediction to the price cap...

"Not that much cheaper but still cheaper so you can get peace of mind if the predictions are right, and it is a very big if, then you might actually save money over the next year too."